This article analyzes the exit decision in the European venture capital market, studying when to exit and how it interacts with the exit form. The paper emphasizes the impact of asymmetric information on the divestment decision. Our model considers the impact of caracteristics of the venture...

In spite of the relation between industrial specialisation and geographic concentration of industries, these are two different concepts. After clarifying both, the aim of this paper is to analyze the structural change on Portuguese manufacturing industry from two perspectives: the specialisation...

In this paper we propose a general framework to deal with the presence of covariate measurement error (CME) in response-based (RB) samples. Using Chesher’s (1991) methodology, we obtain a small error variance approximation for the contaminated sampling distributions that characterise RB...

In recent years, State inefficiency in delivering some public goods to everybody has been the main argument set forth by those who sustain that markets should play a more active role in providing those goods and services that are needed to secure human rights. In result, in many parts of the...

This paper estimates von Neumann andMorgenstern utility functions comparing the generalized maximum entropy (GME) with OLS, using data obtained by utility elicitation methods. Thus, it provides a comparison of the performance of the two estimators in a real data small sample setup. The results...

Data envelopment analysis (DEA) is commonly used to measure the relative efficiency of decision-making units. Often, in a second stage, a regression model is estimated to relate DEA efficiency scores to exogenous factors. In this paper, we argue that the traditional linear or tobit approaches to...

The decoupling of CAP payments leads production decisions and resources allocation to be dependent only on market prices and competitive advantages. The objective of this paper is to assess the effects of CAP trends on the montado ecosystem in southern Portugal in terms of land, labour and...

Alqueva dam in the Alentejo Region was developed to solve water scarcity in the South of Portugal and to ensure permanent availability of water for household and industrial consumption, irrigation, production of electric energy, and ecological and environmental purposes. Competition among some...

The arrival of motorization, from before the beginning of the twentieth century, has changed agricultural production and the whole economy by dramatically reducing work force and improving productivity. Yet the negligence of research on the history of farm mechanization is surprising given that...

In this paper we examine theoretically and by simulation whether or not unobserved heterogeneity independent of the included regressors is really an issue in logit, probit and loglog models with both binary and fractional data. We found that unobserved heterogeneity: (i) produces an attenuation...